Lane Cove is Sydney's busiest auction suburb this weekend

Lane Cove is Sydney's busiest auction suburb this weekend
Staff reporterDecember 7, 2020

There are 17 auctions scheduled in Lane Cove this weekend, according to SQM data, making it the busiest suburb in Sydney for auctions.

Overall, volumes are expected to remain steady across Sydney this week, with 840 homes scheduled for auction, unchanged from last week’s final count. One year ago, a higher 940 Sydney homes were auctioned over the same week.

Weekly auction volumes are set to rise across the combined capital cities, with a total of 1,851 homes scheduled to go under the hammer this week.

The scheduled number of auctions are not only expected to be higher than the 1,728 auctions last week, but the highest level reached since the week ending 19 April when 1,922 auctions were held.

Melbourne is set to host its busiest week for auctions since June, with 647 homes scheduled to go under the hammer. This is up 7% on last week’s volumes, although it’s almost half the volume of auctions seen over the same week last year (1,221).

Across the smaller cities, scheduled volumes are higher over the week in Adelaide (104), Brisbane (118), Canberra (119) and Tasmania (5), while Perth (18) has fewer scheduled auctions over the week.

Given the latest COVID lock down announcement in South Australia, it is likely a number of homes scheduled for auction across Adelaide this week will be withdrawn or postponed.

An example of the busy auction week in Lane Cove is 14 Bailey Avenue (pictured in title).

Located in Northern Lane Cove, the five bedroom, three bathroom house sits on a 690 sqm plot.

It goes under the hammer with a $2.5 million price guide.

An indicator of the range of properties for sale across Lane Cove this weekend is 30/2 Murray Street, a two bedroom, one bathroom apartment (pictured above).

Located at the rear of the recently upgraded 'Murray Gardens' block, the renovated abode comes with a price guide of $700,000.

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